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Sorry for the delayed response [USER=4670]@barney[/USER]Horizon Minerals (HRZ) is the major shareholder of Kingwest Resources (KWR) and held more than 19% before the placement dilution. The placement diluted the shares by 20% not counting the attached options. HRZ picked up a chunky 6.25m shares plus options in the placement but that would not have fully sustained their percentage holding.Jon Price is the M.D of HRZ and is on the board of KWR. How this came about is that HRZ, either in its current form or as the former Intermin Resources, divested the Menzies ground and other tenements to the newly listed KWR and took a sizeable amount of the transaction in KWR shares.The safest way to invest in KWR would be buy into HRZ imo, I currently strongly prefer the management and HRZ has cash and investments, a growing resource next to Kalgoorlie and has already done profitable trial mining and toll milling.KWR could come up with dramatic results from its drilling, I really like the prospects at Menzies and Goongarrie. But I am no expert obviously and frankly have more often been wrong than right with these pure specs I am very disillusioned by the way the company behaved over the equity raising and looking back, even the email responses could be perceived as a bit vapid and tone deaf if reread in cynical frame of mind. They have shown themselves ready to violently dilute shareholders and deny their natural right to participate and all this with no hint of regret or apology.
Sorry for the delayed response [USER=4670]@barney[/USER]
Horizon Minerals (HRZ) is the major shareholder of Kingwest Resources (KWR) and held more than 19% before the placement dilution. The placement diluted the shares by 20% not counting the attached options. HRZ picked up a chunky 6.25m shares plus options in the placement but that would not have fully sustained their percentage holding.
Jon Price is the M.D of HRZ and is on the board of KWR. How this came about is that HRZ, either in its current form or as the former Intermin Resources, divested the Menzies ground and other tenements to the newly listed KWR and took a sizeable amount of the transaction in KWR shares.
The safest way to invest in KWR would be buy into HRZ imo, I currently strongly prefer the management and HRZ has cash and investments, a growing resource next to Kalgoorlie and has already done profitable trial mining and toll milling.
KWR could come up with dramatic results from its drilling, I really like the prospects at Menzies and Goongarrie. But I am no expert obviously and frankly have more often been wrong than right with these pure specs I am very disillusioned by the way the company behaved over the equity raising and looking back, even the email responses could be perceived as a bit vapid and tone deaf if reread in cynical frame of mind. They have shown themselves ready to violently dilute shareholders and deny their natural right to participate and all this with no hint of regret or apology.
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